Associate Member Odessa chosen by First Business Bank for Key Role in Digital Transformation

Odessa, a leading provider of cutting-edge technology solutions for asset finance, has been chosen by First Business Bank to strengthen its digital transformation journey. To augment its Equipment Finance business, First Business Bank is set to integrate Odessa's suite of solutions, including Core Originations and Servicing, Customer Portal, and Insights, all available through Odessa Cloud, the company's comprehensive SaaS solution. 

First Business Bank, specialising in business banking and financial services across diverse industries, is experiencing rapid growth and recognizes the need to modernize its systems to better cater to the unique demands of its Equipment Finance clients. A cloud-based system was the ideal choice to consolidate data onto a single platform and streamline both front and back-office operations. 

By collaborating with Odessa, First Business Bank gains the following benefits: 

Enhanced contract flexibility: Leveraging Odessa's asset-based system, the bank gains advanced capabilities for modifying and servicing contracts, leading to more responsive customer service. 

Data-driven insights: Odessa Insights empowers the bank to transform its data landscape, enabling the creation of custom reports for better decision-making and strategic planning. 

Streamlined operations: Through Odessa's automation prowess, the bank achieves an optimized workflow, significantly improving efficiency in both originations and servicing aspects of their business. 

Readiness for future growth: Odessa's scalable and forward-looking technology sets the foundation for supporting the bank's growth strategy and expanding business needs. 

Stuart Goddard, Managing Director of First Business Specialty Finance, LLC, a subsidiary of First Business Bank, stated, "The growth of our Equipment Finance unit over its initial five years of existence has been tremendous and the time has come for our systems to evolve. We wanted a cloud-based platform to enable us to unify various legacy systems into a single, supported platform. We needed a technology platform that could scale with us, provide needed functionalities, and enable increased process efficiencies across all functional segments of this organization as we embark on the next stage of the organization’s growth. As we look to our future with Odessa, we are confident that this partnership will better equip us to realize opportunities to drive both our top and bottom lines." 

As financial institutions worldwide recognize the advantages of digitalization and seek ways to enhance customer experiences, Odessa has established itself as a trusted partner. With a seamless blend of efficiency, flexibility, and automation, Odessa's platform offers a robust foundation for banks seeking to adapt to market changes and improve customer satisfaction. 

Eric Bernstein, CEO at Odessa, expressed his excitement about the collaboration, stating, "We are delighted to partner with First Business Bank and welcome them to the Odessa family. First Business Bank has done a great job scaling their Equipment Finance business, and we’re thrilled to support the team with their digital transformation goals and continued growth." 

First Business Bank specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting Services. With a refined focus, the bank delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank’s wholly owned subsidiary First Business Specialty Finance, LLC. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc. (Nasdaq: FBIZ). For more information, visit firstbusiness.bank. 

Odessa is a software company exclusively dedicated to serving the leasing industry and is the developer of the industry's top-rated platform. Based in Philadelphia, USA, Odessa's leasing solutions, with a workforce of 1250+, empower a diverse customer base of asset finance companies globally. Odessa offers a powerful, end-to-end, extensible solution for lease and loan origination and portfolio management. The Odessa Platform also provides rich feature sets, including low-code development, test automation, reporting, and business intelligence, ensuring organizations can effectively align business and IT objectives.